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Tips for having a successful relationship with your investment professional

Many investors find that it can be very helpful and effective to work with an investment advisor. They often find that navigating the world of investing can be a complicated and at times overwhelming task. If you take the time to find the right investment advisor for your needs it can be a very beneficial relationship. However, if you are not working with the right investment professional it can make dealing with your investments even harder. This makes it important to know what you should be looking for when you enter into a relationship with an investment advisor. The guidelines listed here can give you the information you need to make sure that you are working with the right investment professional and not wasting your time and money. Here are some tips for having a successful relationship with your investment professional-

• Always have a way out-You should always have a way out of the relationship that you have with your investment advisor. Financial experts stress that you should never sign a contract that does not allow for immediate termination by either party. In addition, there should never be more then a small administrative fee charged for termination. You should never have to pay a penalty for getting out of a contract with an investment advisor.
• Always know who you will be working with-You should always know who you will be working on your investment portfolio. It is standard investment protocol that your account should never be moved to anyone else without your written consent. Keep in mind that you will have gone to a lot of work to choose the right person to work with so you don’t want to find out that you are suddenly working with someone else.
• Always read everything-It can be time consuming but it is vital that you read everything that is given to you. You should never be pressured to sign a document (especially something that has not been filled out). Do not allow your investment advisor to make the promise that it will be filled in later. Make sure that everything that is given to you is complete and then read the entire document. Finally, make sure that you ask for copies for everything that you have signed for back up in case there is a problem or questions come up.
• Always make sure that you sign everything-Equally important to reading everything that is given to you is to never allow anyone else to sign on your behalf. Financial experts stress that when it comes to anything regarding your money you should make sure that you are the one signing. You should stress to your investment advisor that expect to see everything, will read all paperwork, and will sign for yourself. When this is understood up front you will have a much more successful relationship with your investment professional.
• Always expect the highest standards of professionalism-Finally, it is crucial that you expect the highest standards of professionalism from your investment advisor. Investing is a serious business and your financial professional should be prepared to be professional in all situations. If for any reason you feel that your investment advisor is not being professional you should terminate the relationship and move on to find someone else that you can better work with.
• Always check out who you are working with-You should never skip this step. Many people depend on recommendations from family and friends to take the place of researching the background and credentials of a financial professional they are considering hiring. This is never a good idea. Take the time to learn all you can about the investment advisor you are considering hiring so that you can have a confident and successful relationship with him or her.

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